STORY FROM: Reinsurance & Arbitration
Texas Judge Recommends Award of Summary Judgment to Insurer in Premium Dispute
February 24, 2020
DALLAS — A Texas judge has recommended awarding a life insurer summary judgment in a lawsuit accusing it of charging exorbitant premiums following its assumption of policies, finding the plaintiff was given ample notice of the assumption reinsurance agreement and its terms.
In a Feb. 18 order, Magistrate Judge Renee Toliver of the U.S. District Court for the Northern District of Dallas added that even if the plaintiff did not receive notice of the agreement, the defendant insurer was not responsible for providing such notification.
In the 1980s, Don Chae bought two life insurance policies from Mid-Continent Life Insurance Company ...